S&P: United States Of America Sovereign Ratings Unaffected By GSEs' Conservatorship

NEW YORK, NY --Standard & Poor's Ratings Services says neither its 'AAA/A-1+' sovereign credit rating on the United States of America, nor its stable outlook on these ratings is affected by the U.S. Treasury's decision, announced Sunday to put Fannie Mae and Freddie Mac into conservatorship.



(See "Fannie Mae And Freddie Mac 'AAA/A-1+' Unsecured Ratings Affirmed; Preferred Stock Rating Cut," published Sept. 7, 2008). Treasury Building photo top right)

In our view, the U.S. government's credit quality continues to be upheld by its high-income, highly diversified, and exceptionally flexible economy, relative to those of other 'AAA' rated sovereigns, together with the U.S. public sector's fiscal flexibility and the unique advantages coming from the dollar's preeminent place among currencies.

For additional information on our 'AAA/A-1+' rating on the U.S. government, see "U.S. AAA/A-1+ Sovereign Ratings Affirmed Despite GSE Weakness; Outlook Stable," published Sept. 3, 2008, and "What Could Change Our AAA Credit Rating On The U.S. Government?," published Sept. 2, 2008, on RatingsDirect.

Media Contact: David Wargin, New York (1) 212-438-1579mailto:212-438-1579david_wargin@standardandpoors.com


Analyst Contacts:
Nikola G Swann, CFA, FRM, Toronto (1) 416-507-2582
John Chambers, CFA, New York (1) 212-438-7344
David T Beers, London (44) 20-7176-7101
Elena Okorotchenko, Singapore (65) 6239-6375